Despite the Modi Government promoting its ‘Make in India’ campaign, mid and large scale Indian enterprises are planning to invest in setting up manufacturing facilities in African nation Ethiopia, which is attracting a lot of attention of the global manufacturers. Attractive incentives like cheap power, duty-free exports to US and Europe markets, and land on decades-long lease are being put across the table by the Ethiopian Government.
Raymond will be setting up a garmenting unit in Awasa over the next two-three years with an investment of US $ 100 million as they claim that labour costs are 50 per cent cheaper and power-tariffs are one-third as compared to India. Arvind will also be setting up a six-million-piece garment plant in Ethiopia with the single-window clearance for industrial projects policy attracting them. Kanoria textiles is another name that will be setting up a project along with companies from China, Korea, and Turkey.
